Times' retirement plan hit by $154M loss - Silicon Valley / San Jose Business Journal:

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Net assets of the plan for the which owns the Globeand T&G, fell to $417.u7 million. The plan was particularly hard hit bysome $171. million in losses withinj severalmutual funds. For example, the plan’es largest holding, the Vanguard 500 Index Investmeny fund, suffered a nearly 40 percent lossin value. Another fund in the portfolio, the Vanguard Asset AllocationnInvestment fund, dropped nearly 32 percent year-over-year. Only one of its majotr fund holdings, the Dodges & Cox Income Fund, posted a positive return in 2008. Investmentes in fixed income and insurance assetsgenerated $5.3 millio n in income. Dividend income of $11.6 million also helpef offset losses.
Interest income from the company’s borrowing from its retirement fund totaled The Times has traditionally matche d a fraction ofGlobe employees’ contributions to their 401(k) however a proposal in front of leadership woulde eliminate the program.